Abbreviated Company Accounts - COOL CANVAS TENT COMPANY LIMITED
Abbreviated Company Accounts - COOL CANVAS TENT COMPANY LIMITED
Registered Number 09889307
COOL CANVAS TENT COMPANY LIMITED
Abbreviated Accounts
30 November 2016
COOL CANVAS TENT COMPANY LIMITED Registered Number 09889307
Abbreviated Balance Sheet as at 30 November 2016
Notes | 2016 | ||
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£ | |||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Cash at bank and in hand |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
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Shareholders' funds |
( |
For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
COOL CANVAS TENT COMPANY LIMITED Registered Number 09889307
Notes to the Abbreviated Accounts for the period ended 30 November 2016
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery over 5 years
Other accounting policies
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
£ | |
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Cost | |
Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 November 2016 |
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Depreciation | |
Charge for the year |
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On disposals |
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At 30 November 2016 |
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Net book values | |
At 30 November 2016 | 1,160 |